Odaily Planet Daily News According to official news, on April 19, 2024, the China Securities Regulatory Commission issued 5 capital market cooperation measures with Hong Kong to help Hong Kong consolidate and enhance its status as an international financial center. Recently, the China Securities Regulatory Commission revised the "Interim Provisions on the Administration of Mutual Recognition of Funds in Hong Kong" (China Securities Regulatory Commission Announcement [2015] No. 12) to further optimize the mutual recognition arrangements between the mainland and Hong Kong funds. Now, the "Hong Kong Mutual Recognition of Funds Administration Provisions (Draft for Comments)" is open to the public for comments. Since the implementation of the mutual recognition mechanism between the mainland and Hong Kong in July 2015, the mutual recognition of funds between the mainland and Hong Kong has been carried out smoothly and orderly, and various systems and mechanisms have been running well, which has better met the cross-border financial management needs of investors in the two places, and at the same time strongly supported the construction of Hong Kong as an international financial center. In order to better play the positive role of the mutual recognition mechanism of funds between the two places, this rule revision intends to optimize from two aspects. First, the limit on the sales ratio of mutual recognition funds in foreign countries will be relaxed from 50% to 80%; second, the investment management functions of Hong Kong mutual recognition funds will be allowed to be transferred to overseas asset management institutions in the same group as the manager. We welcome valuable opinions from all sectors of society. The CSRC will further revise and improve the regulations based on the public comments and then publish and implement them.